Short Interest in FG Merger II Corp. (NASDAQ:FGMC) Drops By 59.1%
by Sarita Garza · The Markets DailyFG Merger II Corp. (NASDAQ:FGMC – Get Free Report) saw a large decline in short interest in February. As of February 13th, there was short interest totaling 14,912 shares, a decline of 59.1% from the January 29th total of 36,460 shares. Approximately 0.6% of the company’s stock are sold short. Based on an average daily volume of 56,271 shares, the short-interest ratio is presently 0.3 days. Based on an average daily volume of 56,271 shares, the short-interest ratio is presently 0.3 days. Approximately 0.6% of the company’s stock are sold short.
Analysts Set New Price Targets
Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of FG Merger II in a research report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, FG Merger II has a consensus rating of “Sell”.
Check Out Our Latest Report on FGMC
FG Merger II Stock Performance
Shares of FGMC stock traded up $0.01 on Friday, reaching $10.09. The stock had a trading volume of 37,842 shares, compared to its average volume of 44,268. The stock has a market cap of $26.23 million and a P/E ratio of 1,009.00. FG Merger II has a 1 year low of $9.53 and a 1 year high of $10.25. The company has a 50 day simple moving average of $10.07 and a 200 day simple moving average of $10.03.
Hedge Funds Weigh In On FG Merger II
A number of institutional investors have recently bought and sold shares of the stock. Flow Traders U.S. LLC purchased a new position in shares of FG Merger II in the second quarter worth $115,000. Crossingbridge Advisors LLC purchased a new stake in FG Merger II in the 2nd quarter worth $242,000. Wolverine Asset Management LLC bought a new position in shares of FG Merger II during the 2nd quarter valued at about $277,000. SkyView Investment Advisors LLC bought a new position in FG Merger II during the second quarter valued at approximately $789,000. Finally, Highbridge Capital Management LLC purchased a new position in shares of FG Merger II in the second quarter valued at $954,000.
About FG Merger II
FG Merger II is a special purpose acquisition company (SPAC) incorporated in Delaware in 2022. The company was formed for the purpose of effecting a merger, stock exchange, asset acquisition or similar business combination. It completed its initial public offering on the Nasdaq under the symbol FGMC and, to date, has not identified a definitive target or commenced substantive operations beyond the SPAC formation.
The company intends to pursue opportunities in financial technology, financial services and adjacent technology-driven sectors.